Wilmington Trust Co. v. Wilmington Trust Co.

The Chancellor :

This is a bill to construe a trust deed, executed by William Winder Laird during his lifetime, and in which he created what is known as a “Funded Life Insurance Trust,” in the event of his death before December 27th, 1933. He died before that date, and on his death the policies of insurance referred to in that deed were collected by the Wilmington Trust Company, the trustee therein named, and the proceeds thereof are still held by that corporation in that capacity. That fund composes the corpus of the “primary trust fund” mentioned in the trust deed, and the proper disposition…